Great wall of money powers GWA

Great Wall Auto overwhelmed by retail interest despite the threat of lawsuits from Nissan.

BNP Paribas Peregrine priced a 114 million share IPO for Great Wall Auto GWA just off the top of its indicative range yesterday after receiving demand in excess of HK$184 billion $24 billion for the HK$1.52 billion $195 million deal.

After marketing the offering at HK$10.05 to HK$13.40 per share, pricing was settled just below the top of the range at HK$13.30 in order to give the deal a secondary market kicker. This...